A Consumer's Optimal Choice Occurs When the

question 199

Multiple Choice

A consumer's optimal choice occurs when the

• A)consumer's valuation of the two goods equals the market's valuation of the two goods.
• B)consumer minimizes her expenditures.
• C)consumer attains the highest indifference curve.
• D)consumer's valuation of the two goods exceeds the market's valuation of the two goods.

---

Definitions:

Managerial Attitudes

The predispositions or orientations that managers have towards people, tasks, and situations in the workplace.

Ethnocentric

Holding the belief that one's own culture or ethnicity is superior to others, often resulting in judging other cultures from the perspective of one's own.

Local Decision Making

The process of making choices or solving problems at a local level, often allowing individuals or groups closest to the issue or situation to make the decisions.

Polycentric

Polycentric refers to a philosophy or approach in international business, in which policies and practices are tailored specifically to fit the requirements of each country.